Retailers snap up space in new mall.

Posted On Wednesday, 20 November 2002 10:01 Published by
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Leases have been signed for 80% of the space at Liberty Midlands Mall, a R260m retail development under construction in Maritzburg.
Leases have been signed for 80% of the space at Liberty Midlands Mall, a R260m retail development under construction in Maritzburg.

The development was initiated by Investec Property Group and RMB Properties, but was sold to Liberty Life Properties. Letting management of the development, which will open in September next year, is with Investec.

'The demand for letting space has been phenomenal,' says Steve Grupel of Investec Property Group. He is confident the mall, which will have 130 retail outlets, will be fully occupied on completion. While the phase under construction encompasses 38000m², the developers have the rights to build up to 55000m² of lettable space.

Grupel says that apart from Game, Pick 'n Pay, Woolworths and most of the well-known retailers, the mall will have lifestyle retailers such as hair salons and florists.

Grupel says the mall is expected to absorb the 30% outflow of midlands shoppers to other shopping destinations like the Pavilion in Durban.

Business Day


Publisher: Business Day
Source: Business Day

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